Management at Annaly will occasionally express their thoughts and opinions on specific issues and events in the financial markets through monthly commentaries and white papers. Annaly Salvos is a venue for expressing occasional thoughts and opinions on issues and events in the financial markets. Blog posts, commentaries and white papers are for informational purposes only, and should not be construed as an offer to sell, nor a solicitation of an offer to buy, any securities of Annaly Capital Management, Inc. or any other company. Annaly manages assets on behalf of institutional and individual investors worldwide. Annaly’s principal business objective is to generate net income for distribution to investors from its Investment Securities and from dividends Annaly receives from its subsidiaries. Annaly is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”).